Cancellation is the culprit behind 2 in 5 wedding insurance claims

By: Bernadette Starzee April 3, 2018Comments Off on Cancellation is the culprit behind 2 in 5 wedding insurance claims

Sometimes weddings don’t go off as planned. A hurricane or blizzard might blow into town, putting the kibosh on the event. Or perhaps the wedding is called off by a bride or groom with cold feet.

Cancellation or postponement is the reason behind more than two in five of wedding insurance claims, according to a new report released by Garden City-based WedSafe, a division of Aon Affinity. The most common culprit for a postponed event is weather, according to the report, which is based on the company’s 2017 data.

“Canceling or postponing a wedding is absolutely the last thing on your mind when you’re in the planning process, but our numbers show that it’s very much a reality that some couples must face,” Steve Lauro, vice president of Aon Affinity, said in a statement. “Brides and grooms have to plan for the unexpected to protect their investment.”

Behind cancellation or postponement, the second most common reason for submitting a claim was for property damage. Damage to the wedding venue – which ranged from broken antique mirrors to gouged marble tables – or guests’ property – such as a tree falling on a car in the venue’s parking lot – accounted for 21 percent of WedSafe’s 2017 claims.

Slip and fall injuries at weddings accounted for 18 percent of all claims, followed by vendor issues – such as when DJs don’t show up or videographers don’t deliver the final product – at 15 percent.

Theft or loss of property – such as cash or jewelry – accounted for 4 percent of claims.